VENARI MINERALS NL — Capital/Financing Update 2016

Apr 4, 2016

UPDATE ON THE PROPOSED RIGHTS ISSUE

On 30 March 2016, Astro Resources NL (ASX: ARO or the Company ) announced the terms of the proposed acquisition of Gymeny Limited (“ Gymeny ”), including an indicative pricing structure for the proposed rights issue, which is to be fully underwritten, of five (5) new shares for every one (1) share held at an issue price of $0.004 cents for each ordinary share subscribed to. In addition, shareholders will receive one free attaching option for each share new subscribed to with an exercise price of $0.004 (on a pre consolidation basis) or 20 cents (post consolidation) with a three year expiry date. The capital structure of the Company post the proposed rights issue and the acquisition of Gymeny has been detailed in the announcement of 30 March 2016.

The above pricing structure will be reflected in the offer documentation to shareholders, which will be prepared and issued as soon as possible. Included in the material to be provided will be a record date for the rights issue. Additionally, shareholders are reminded that the final allocation of the shareholding in “Astro Number 2”, the entity which is to own the various mineral assets of the Company (refer to the announcement of 4 January 2016 for further details), is to be based on the shareholding position post the proposed rights issue.

The Board considers that the above terms of the proposed rights issue are attractive to all shareholders, as it represents a 50% discount to the last traded price of an ARO ordinary share.

For further details contact:

Vince Fayad Company Secretary

Email: vfayad@pkf.com.au Mobile: 0414 752 804

a sydney nsw 2000 w : www.aro.com.au

p : gpo box 5446 sydney nsw 2000 e

ph : +61 2 9237 6525 fx : +61 2 8346 6099 asx : aro